LAWRENCE HO Group Managing Director of Melco

ACCORDING to Lawrence Ho, Group Managing Director of Melco International Development Ltd., there is an old guard and a new guard operating in Macau’s entertainment and hospitality industry these days. One is still functioning on a quick turnover policy while the other is clearly focused on the future, and working to create a more modern and quality-oriented industry through investment over the long term in superior facilities. Melco represents this new face of Macau, and 28-year-old Lawrence Ho, son of legendary Macau magnate Dr. Stanley Ho, is the embodiment of a new generation of young and dynamic entrepreneurs intent on transforming Macau into a world-class destination. He comments, “The old guard still believes in converting an old commercial building and calling it a casino. The new guard is putting money, time and investment into things because they think they can actually add value and make something of the product. It aims at building something that will last thirty or forty years, not just three or four.”

Mr. Ho has secured an exclusive Asian joint venture with Australia based Publishing and Broadcasting Limited (PBL) to reinforce Melco’s drive in promoting Macau’s tourism. The Melco PBL joint venture unveiled a $1.3 billion mega-project in May for a hotel-casino-residential complex called the City of Dreams on the Cotai Strip. Together with “The Historic Center of Macau” recently inscribed onto UNESCO’s World Heritage List, this spectacular resort will revolutionize the tourism sector, opening Macau to tourists and families alike. The City of Dreams will float above a crystal lake and feature an underwater casino showcasing tropical marine life, 450 gaming tables, 3,000 poker machines, three internationally managed hotels offering 2,000 hotel rooms, a performance hall staging permanent shows, and uniquely designed time sharing service apartments. It will also offer fine dining and entertainment experiences such as an ‘under the sea’ restaurant and hip clubbing spots.

Construction will begin this year and is expected to be completed by late 2008. The project is Mr. Ho’s first contribution to the government’s goal of creating a multi-dimensional family destination with integrated resorts in Macau. He says, “We all believe that it will not be very difficult to stretch Macau’s average visitor stay from the current one night into three or four. Right now we don’t have the infrastructure but in two years time it will all be here.”

Furthermore they are constructing what will be Macau’s first and only six-star hotel and VIP casino, the Crown Macau. Visitors will no longer be greeted by smoke-filled rooms where people are packed in like sardines, but instead will experience never before seen six-star luxury, amenities and comfort.

Approaching the market from a fresh angle, Mr. Ho has surprised industry experts in creating a successful chain of hip slot machine coffee houses, Mocha Slots. Modern, comfortable gaming lounges in the style of a Starbucks mixed with an Australian slot club, it has attracted a younger, more leisurely crowd, and captured 35% of one of the region’s fastest-growing and trendiest markets.